SuperNews 19-6-2029 (Judgments – Fin Act on 23rd – Senate Recommendations on Fin Bill – Misc Developments – SC Ruling on Generators – Provincial Budgets – KPRA – ATIR – ADD – Intl Trade)

The following topics can be found in their own Tax Law posts:

1.      SC (LB) Judgment [CA 1227 -14] AFR 20-2-2026 – 1999 PTD 1892 – PHC STR 114 of 06 – Generator as Plant & Machinery – Input Tax Adjustment or Refund – SRO 677-2000 – SRO 578-98 – Allowed 

2.      SC Order [Civ Rev Pet CRP 4 -26] AFR 19-5-2026 Vs Customs – Import of Over-Aged Vehicles under App-E Import Pol Order – Release on Redemption Fine – SRO 499-09 – 2025 SCMR 367 & 684 – Dismissed

3.      KPRA Notification dt 13-5-2026 Amendments to First & Second Schedules under the KPK ST on Services Act, 2022

4.      ATIR Cir dt 17-6-2026 Checklist for Filing of Appeals & Misc Applications

5.      ATIR Notification dt 16-6-2026 Restoration of working days & Times

6.      Cus Val 2090 – Valves

The following topics are included in the given attachment:

7.      BUDGET: NATIONAL ASSEMBLY LIKELY TO PASS FINANCE BILL ON JUNE 23

8.      FINANCE BILL: SENATE ADOPTS 123 SUGGESTIONS

9.      PIA AIRCRAFT, PARTS IMPORTS: NA PANEL DEFERS ST RELIEF PROPOSAL

10.   NA PANEL ENDORSES TAX ON SOCIAL MEDIA EARNINGS, INHERITED PROPERTY CGT

11.   FBR TELLS SENATE PANEL TOBACCO TAX THEFT IS RS40BN, NOT $1BN

12.   FINANCE BILL 2026: EXTRACTION CANNOT DELIVER: BR

13.   SC CLARIFIES TAX TREATMENT OF INDUSTRIAL MACHINERY: HELD THAT GENERATORS INSTALLED IN INDUSTRIAL UNITS, WHICH ARE USED AS CAPITAL ASSETS TO RUN THE PRODUCTION PROCESS, DO NOT NECESSARILY FALL WITHIN THE CATEGORY OF STOCK-IN-TRADE

14.   KP BUDGET TO BE PRESENTED TODAY

15.   SINDH BUDGET: BR EDITORIAL

16.   FINANCE BILL ANOMALY COMMITTEES REVISED

17.   PURE TEREPHTHALIC ACID’S IMPORTS: NTC IMPOSES ANTI-DUMPING DUTIES

18.   CLOSURE OF TRANSIT TRADE: PAKISTAN, AFGHAN SUFFER HUGE ECONOMIC LOSSES

19.   WEAKENED WTO, TRUMP’S TARIFFS REGIME, AND HORMUZ CLOSURE ARE DEFINING ERA OF TRADE: DMCC CHIEF

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